Trade and investment liberalization and the development of small and medium enterprises: A perspective from Indonesia
In most Asian economies, small and medium-size enterprises (SMEs) are considered as the engine of economic growth by virtue of their sheer number as well as significant economic and social contributions. The role of these enterprises in industrial development in Asia is more pronounced than in Europe or North America. The contribution of SMEs in developing Asia is vital in as much as they make up about 80 per cent of all non-agricultural enterprises, yet generate about the same percentage of total employment. In addition, they contribute between 40 per cent and 70 per cent of total value-added.